Lease Buyout Gone Wrong!!!
04-20-2010, 10:13 AM
#1
Contributors
Thread Starter
Join Date: Aug 2004
Location: New York
Posts: 349
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2004 550i - AS, SP, CWP, Nav, L7, Rear Sunshades, PDC, Comfort Seats
I am not crazy about the upcoming F10 and decided to keep my E60.
I decided to go through my dealer to get a price below my residual and was able to get 8% off. The CA and I agreed upon the buyout price and I filled out a credit application to process the financing. This process was done last week. I get a call yesterday from my CA asking for an $1800 increase, because when he reran the buyout(not sure why he did it again) the existing pool of 550s where lower this week, from when he quoted me last week, now the price went up and he can only sell the car at the price BMWFS is telling him. I also have a voicemail stating the final negotiated price. I am pissed off about this and have over a 6 year relationship with this dealer and CA.
Is this outrageous?
What do you guys think about this crap?
I decided to go through my dealer to get a price below my residual and was able to get 8% off. The CA and I agreed upon the buyout price and I filled out a credit application to process the financing. This process was done last week. I get a call yesterday from my CA asking for an $1800 increase, because when he reran the buyout(not sure why he did it again) the existing pool of 550s where lower this week, from when he quoted me last week, now the price went up and he can only sell the car at the price BMWFS is telling him. I also have a voicemail stating the final negotiated price. I am pissed off about this and have over a 6 year relationship with this dealer and CA.
Is this outrageous?
What do you guys think about this crap?
04-20-2010, 10:15 AM
#3
Contributors
Join Date: May 2009
Location: SoCal
Posts: 10,496
Likes: 0
Received 2 Likes
on
2 Posts
My Ride: 2008 550I LOADED, all options except HUD and NV
Did you happen to get the originally quoted price in writing? If so, they are screwed and you get the price you wanted. Good luck 
04-20-2010, 10:24 AM
#4
Contributors
Join Date: Jun 2008
Location: Tacoma, WA
Posts: 5,501
Likes: 0
Received 0 Likes
on
0 Posts
SAVE THE VOICEMAIL
if you have it in writting then its a done deal but in lieu of that voicemail will work almost as well
get to the financing manager immediately to resolve this
04-20-2010, 10:34 AM
#6
Contributors
Thread Starter
Join Date: Aug 2004
Location: New York
Posts: 349
Likes: 0
Received 0 Likes
on
0 Posts
My Ride: 2004 550i - AS, SP, CWP, Nav, L7, Rear Sunshades, PDC, Comfort Seats
What is the penalty by waiting??? Should I push this right away, because I already threatened that they will lose me as a customer if they don't stick the final price....
04-20-2010, 10:36 AM
#7
Members
Join Date: Feb 2008
Posts: 181
Likes: 0
Received 0 Likes
on
0 Posts
8% is high in my book.
Plus if they don't honor the price they originally gave - I would personally shop around somewhere.
I don't deal with anyone (person, store, etc) if they don't have a word-of-honor.
Plus if they don't honor the price they originally gave - I would personally shop around somewhere.
I don't deal with anyone (person, store, etc) if they don't have a word-of-honor.
04-20-2010, 10:39 AM
#8
Contributors
Join Date: Jun 2008
Location: Tacoma, WA
Posts: 5,501
Likes: 0
Received 0 Likes
on
0 Posts
did you sign a contract with the price? if so they are locked into it and you can sue them if you so choose to
if not then you can report them to BMW NA for false advertising and mismanaging your account and a sale of a new bmw
i would be relentless on this as they will want to make it go away as quickly as possible
04-20-2010, 10:40 AM
#9
Contributors
Join Date: Jun 2008
Location: Tacoma, WA
Posts: 5,501
Likes: 0
Received 0 Likes
on
0 Posts
word of honor doesnt mean shit anymore
if there isnt physical proof, then youre just looking to have your money stolen
04-20-2010, 10:42 AM
#10
Members
Join Date: Feb 2008
Posts: 181
Likes: 0
Received 0 Likes
on
0 Posts
well, he has not paid a dime yet - so nothing is basically stolen.
my point is, if they say something and don't commit to it - then, they can't be trusted - simple as that.
I would shop somewhere else based on that trust-relationship.